After making their presence felt in the arena of smartphones, where they have emerged one of the most preferred choices of Indian smartphone customers, Xiaomi has now ventured into the payments market with the launch of Mi Pay app in India today.

The Unified Payment Interface(UPI) based app has been approved by National Payments Council of India (NPCI) and will be partnered by ICICI Bank which will be app's payment service provider. As of now, the Mi Pay app will be available in the Mi App store soon, and in few weeks, it will be integrated in the user interface of MI mobiles so that the need to open the app will be avoided.

Mi Pay will be integrated with SMS,camera scanner, contacts and will also be helpful for mobile recharge and bill payment purposes, similar to other payment apps like Google pay and Phone Pe. Mi Pay will soon be made as an option in Mi stores as well, and this feature, was launched in China initially in 2016. It must be noted that Whatsapp is also working on a payments feature Whatsapp pay currently being tested.